Unimech Aerospace Share Price Closes At 76% Premium
The share price debuted on the BSE at Rs 1,491 per share, marking a premium of 89.94% over the issue price of Rs 785.
Shares of Unimech Aerospace and Manufacturers Ltd. closed on the BSE at a premium of 76% on the BSE on Tuesday over the issue price. It closed at a 74% premium on the NSE.
The shares debuted on the BSE at Rs 1,491 per share, marking a premium of 89.94% over the issue price of Rs 785. The stock listed on the National Stock Exchange at Rs 1,460 apiece, at a premium of 85.99%.
The share price closed 7.18% lower at Rs 1,384 per share on the BSE. It ended 6.4% down over the listing price on the NSE.
Unimech Aerospace's IPO, which closed on Dec. 26, was subscribed 175.31 times, with demand led by qualified institutional buyers. The Rs 500-crore offering consisted of a fresh issue of Rs 250 crore and an offer for sale of Rs 250 crore.
The company also raised nearly Rs 150 crore from anchor investors a day before its IPO opened for bidding.
From net proceeds of the issue, Rs 36.37 crore will be used for funding capital expenditure for expansion through purchase of machinery and equipment. Another Rs 25.29 crore will go towards working capital requirements of the company and for investments in its material subsidiary.
Unimech Aerospace Business
The Bengaluru-based firm is a leading manufacturer of complex tooling, mechanical assemblies, electro-mechanical turnkey systems, and precision components for clients in the aerospace, energy and semiconductor industries.
These components are used in aero engine and airframe tooling for production, maintenance, repair and overhaul, and line maintenance activities.
The company offers a diverse range of products and manufactures relatively small quantities of each, tailored to specific customer requirements.
